Allen and Amy are formed as "C" corporation, with each being equal held owners. The FMV of each shareholder's stock is $75,000. Allen contributed land with a basis of $50,000 and a FMV of $75,000. Amy contributed machine with a basis of $35,000 and a FMV of $60,000, plus cash of $15,000. What is Allen and Amy's stock basis?

a. $50,000 and $35,000

b. $75,000 and $75,000

c. $50,000 and $50,000

d. $50,000 and $20,000